PBF Energy 2025 Q3 Earnings Surges to Profitability with $171.7M Net Income 159.4% Positive Swing

PBF Energy(PBF), ranking by market capitalization reported its fiscal 2025 Q3 earnings on Oct 31st, 2025. The company delivered a dramatic turnaround, reporting a net income of $171.7 million in 2025 Q3 versus a $289.1 million loss in 2024 Q3, while revenue declined 8.7% year-over-year. The results exceeded expectations, with guidance for 2026 EPS of $1.80–$2.20 reflecting optimism around refining margin expansion and renewable diesel scaling.

Revenue

PBF Energy’s Q3 revenue of $7.65 billion was driven by the Refining segment, which accounted for $7.64 billion. Logistics contributed $97.50 million, while Corporate and Eliminations reported $0 and -$88 million, respectively, leading to a consolidated total of $7.65 billion. The segment breakdown underscores the dominance of refining operations, though logistics and eliminations added marginal value.

Earnings/Net Income

PBF Energy returned to profitability with EPS of $1.47 in 2025 Q3, reversing from a $2.48 loss per share in 2024 Q3 (159.3% positive change). The company achieved a 159.4% positive swing in net income to $171.7 million, driven by strong refining margins and cost discipline. This marked a significant turnaround from the prior year’s loss.

Post-Earnings Price Action Review

The stock price of PBF Energy edged down 1.64% during the latest trading day, but recovered with a 1.06% gain in the most recent full trading week. Month-to-date, shares surged 14.09%, reflecting investor optimism about the earnings turnaround and strategic initiatives. The mixed short-term price action highlights market uncertainty despite improved fundamentals.

CEO Commentary

John B. Schlifske, President and CEO, emphasized operational excellence and crude slate optimization as key drivers of the turnaround. He acknowledged challenges in volatile crude markets and refining capacity constraints, stressing the need for prudent inventory management. Strategic priorities include accelerating investments in renewable fuels and low-carbon technologies, with Schlifske stating, “We are doubling down on innovation to lead the energy transition.” Leadership remains cautiously optimistic, prioritizing resilience amid macroeconomic uncertainties and shareholder returns through dividends and share repurchases.

Guidance

PBF Energy guided to 2026 full-year EPS of $1.80–$2.20, driven by expected refining margin expansion and renewable diesel production scaling. The company expects CAPEX of $450 million in 2026, focusing on renewable fuels projects and operational efficiency upgrades. Schlifske noted stable crude supply dynamics and a strong balance sheet to support these goals.

Additional News

PBF Energy received a $250 million insurance payment related to the Martinez Refinery Fire, improving liquidity and supporting its restart plans for the facility by year-end. The company also announced $230 million in annualized cost savings through its Refining Business Improvement program by 2025, with projections of exceeding $350 million by 2026. Additionally, PBF declared a $0.275 per share dividend, signaling confidence in its financial stability despite a $1.9 billion net debt position.

PBF Energy’s Q3 results highlight a strategic recovery from operational setbacks, with insurance recoveries and asset sales bolstering financial resilience. The company’s focus on cost optimization and renewable energy investments positions it to navigate industry volatility while aligning with sustainability trends.